(050)= (010) .(.020+030+040)
5.1 :
∆1=0*I 0= 0(I-1),
0- ,
I =1/0,
1- ,
0 .
5.2 :
∆2= 0*I-1,
0- ,
1 .
5.3 :
∆3 = 0*I-1,
0- ,
1- .
5.4 :
∆4 = 0*I-1,
0- ,
1- .
∆=∆1+∆2+∆3+∆4
.
6.1 .
14.
___________________ _______ .
| . | (+,-) | |||
| 1. | . . | |||
| 2. | . . | |||
| 3. | . . | |||
| 4. (V) | . . | |||
| 5. (S) | . . | |||
| 6. | . . | |||
| 7. | . . | |||
| 8. | . . | |||
| 9. (.6/.4)*100% | % | |||
| 10. (.6/5)*100% | % | |||
| 11. (.7/.1)*100% | % | |||
| 12. (.7/.2)*100% | % | |||
| 13. (.7/.3)*100% | % | |||
| 14. ( ) (.8/.3)*100% | % |
, , .
6.2 (R).
.
.
:
). :
∆R(v)= (V1-S0)/V1*100 (V0-S0)/V0*100,
|
|
|
∆R(v) ;
V1, V0 ;
S0 .
). :
∆R(s)= (V1-S1)/V1*100 (V1-S0)/V1*100,
∆R(s)- ;
S1 .
(. .14)
6.3 (Rs).
1 .
.
:
). :
∆R(v)= (V1-S0)/S0*100 (V0-S0)/S0*100;
).:
∆R(s)= (V1-S1)/S1*100 (V1-S0)/S0*10.
(. .14)
7. .
15.
.
| . . | , (+,-) | |||
| EBIT | ||||
| EBITDA | ||||
| NOPAT | ||||
| ROI | ||||
| ROCE |
EBIT (Earnings before interest and taxes)- .
EBITDA (Earnings before interest,taxes, deprecation and amortization) , . , .
EBITDA= EBIT + ,
-
.
NOPAT (Net operating profit after taxes) - . , EBIT .
NOPAT= EBIT (1 ),
ROI (Return on investments) .
ROI= NOPAT *100%/( )
ROCE (Return on capital employed) .
ROCE= NOPAT *100%/( )
3
1. , .
16.
, _____________________ ___..
| . . | ., % | . . | ., % | - , . . | ,% | , | |
| , ..: | |||||||
| , . | |||||||
|
|
|
2.
17
, . .
| . | . | . | . | . | . | . | ||
| , . | ||||||||
() () .
= / .
= / .
3. , .
18
,
| : | , . . | % |
| , | ||
4.
19
| (+, -) | , % | |||
| 1. , . . | ||||
| 2. , . . | ||||
| 3. , , , . . | ||||
| 4. , . . | ||||
| 5. , % (.4/.1*100%) | ||||
| 6. , %(.4/.38100%) | ||||
| 7. , | ||||
| 8. |
.
5. .
:
1. ;
2. ;
3. .
R = /= /* /.*./= R* *,
.-
-
.
R.-
- ()-
( ) .
20
,
|
|
|
| (1) | (0) | (+,-) | |
| 1. | |||
| 2. | |||
| 3. | |||
| 4. | |||
| 5. | |||
| 6. | |||
| 7. | |||
| 8. . |
:
∆R (R) = (R1- R0)*1*1
∆R () = R0 (1-0)*1
∆R () = R 0*0* (1-0)
∆R =∆R (R)+ ∆R ()+ ∆R ()
6.
21
.
| (+,-) | |||
| 1. : | |||
| 1. | |||
| 2. | |||
| 3. | |||
| 4. | |||
| 5. | |||
| 6. | |||
| 7. | |||
| 8. | |||
| 9. | |||
| 10. . | |||
| 11. | |||
| 12 , ( ..11) | |||
| II. : | |||
| 13. | |||
| 14. | |||
| 15. | |||
| 16. () | |||
| 17. | |||
| 18 | |||
| 19. , ( .. 13-18) | |||
| 20. (.12-.19) |
. , . , .
